Category: Q&A – Home Buying Questions

Question: Hi Gary. We’re not ready to buy a home but have heard about a lease + option to buy. How do you feel about those? Answer: If you can find one, lease-to-own or lease-option might be a good choice for you. If done right, you can lock in a price on a home and

Question: “I’ve never bought a home before. How do property taxes work? How are they determine how can they change?” Answer: Your annual property tax will be a certain percentage of the assessed value. In San Diego County, it’s 1% + some add-ons which bring it to between 1.1% and 1.2%. When you buy a

Question: “What do you think of buying a home at a foreclosure sale down at the courthouse?” Answer: For sophisticated investors, it can pay off well. However, there are many very real risks and downsides to buying at a trustee sale: Low supply / high demand: There are very few foreclosures now, but plenty of

Question: “I just bought a house and closed a couple of weeks ago. My neighbor said he never saw a termite tent go on. How do I know it was fumigated?” Answer: Let me ask a few questions… First, did the contract call for a pest control clearance? If so, was a fumigation required for

Question: “I’ve only been looking at homes for a couple of weeks and seen about 25. There’s one I really like, but I’m afraid it’s too soon. I know there’s no magic number, but how many homes do you suggest I see before buying one?” Answer: Because it’s very subjective, I’m going to just make

Question: “We’re looking to buy a house in the I-5 corridor. We either want a view or one where we can build up to get one. How do I know if I can add a 2nd story? What kind of restrictions are there on building up?” Answer: Great question. Here are some things you need

Question: “My wife and I have been looking on our own and are getting very frustrated trying to find a home. Can you give us any tips?” Answer: The first thing you need to do is start working with a good, active, experienced agent. I’m guessing you haven’t done so yet because you don’t want

Question: “Hi Gary. We made an offer on a home and the inspector found a few electrical issues. We asked for them to be fixed by a licensed electrician. Then right before closing we found out the seller made the repairs himself, not a licensed electrician. He can’t do that, can he?” Answer: The seller

Question: “We’ve been on the fence. Do you think it’s a good time to buy right now?” Answer: That’s a version of what I call “The Crystal Ball Question.” Let me explain… What determines whether it’s a good time to buy? Factors include: Will prices go up or down? Will the for-sale housing inventory decrease

Question: “There’s a house I’d like to see on Conrad. I’ll just wait until they do an open house. Do you know when it will be open?” Answer: No, but you could be waiting a long time! Many people mistakenly believe that homes for sale are held open constantly AND that open houses are the